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You just filed for Chapter 13 bankruptcy today and woke up to a tow truck repossessing your leased vehicle is there any way to get it back and do you have to catch up on payments first?
Mpshms
Yes and yes
Wiki User
∙ 7y ago
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You are financing a vehicle but you can no longer afford payments what can you do?
Talk to the lender, or you can file Chapter 13 Bankruptcy to lower the payments where you can afford them.
You kept making car payments after discharged in chapter 7 if you stop paying and don't surrender the car can the lender go and undo your bankruptcy?
No. But, the vehicle will become a repossession if payments are not made.
Filing a Chapter 7 with 2 payments owing on your car how long do you have in getting it current before the creditor can take it if you plan on curing the default 30 days after filing?
When you file a Chapter 7 bankruptcy, you have the option to keep your home and 1 vehicle. If you are able to make the last 2 payments on the car, you can keep it and not include it in the bankruptcy.
Can you keep your vehicle if you file chapter 13 bankruptcy?
yes
Can you keep a car and car loan presuming you make payments on time and still file chapter 7 you have less than 1K equity in vehicle?
Yes, as long as you do not include it on the bankruptcy, at least in Florida. * The vehicle exemption that is allowed by either federal or state law determines whether or not the vehicle can be excluded from bankruptcy action.
Can you get your car back if you file a chapter 7 bankruptcy before it is auctioned off?
If the lender is willing to reaffirm the loan with the borrower then the vehicle can be returned. A vehicle is a secured debt and is not subject to chapter 7 bankruptcy laws.
If your vehicle was listed in your Chapter 7 bankruptcy almost a year ago and the bankruptcy has been discharged and you are current on your payments can you still turn it in?
Yes you can still turn it in. They told me that because it was involved in the bankruptcy, I could stop paying at any time and either call them to come get it or take it to the nearest dealer. I chose to keep my vehicle at the time but have since traded in for another.
If you are including a leased vehicle in a bankruptcy and need a vehicle that you can afford payments on will you have a tough time getting a loan?
There are some creditors that offer car loans to those who' ve filed bankruptcy.
Can you sell a vehicle that was included in a Chapter 13 bankruptcy case and is not yet paid off?
No
Even if you are current with your car payments should you give back my automobile during chapter 13 bankruptcy?
The simple answer is no. If you are current on your car note, then this is not the issue that lead to the bankruptcy. That you are paying it current may have contributed to your financial situation, but on the surface it is not a reason to surrender the vehicle. Either do not list it or reaffirm it with the lender.
Can your vehicle be repossessed after you file Chapter 7 bankruptcy?
No. But they can ask to be excluded from the bankruptcy. Usually a deal can be made with the lender to keep a vehicle. If it is covered by the exemption and the borrower lives up to the contract agreement.
Can you keep a vehicle after filing chapter 7 if they have not repossessed it?
You can only keep the vehicle under two circumstances: (1) sign a reaffirmation agreement and keep making payments; or (2) redeem the vehicle by paying of the balalnce. If you fail to do either, they lender can get permission from the bankruptcy court to repossess the vehicle. In some states, such as Missouri, you may keep the vehicle if you continue to pay on it.
